Step by step

2 The first step is to enter a formula to reference the loan amount for the beginning balance for 2 T the first payment. In cell B9, enter a formula that references cell D2. 3 A loan amortization table usually contains a column that displays the monthly payment for each row. In cell C9, enter a formula to reference the monthly payment in cell D3. Use a mixed reference and copy the formula to the range C10:C68 4 The monthly payment indicates the total amount of the payment, which includes principal and 7.5 interest. Interest is calculated based on the loan amount, the rate, the payment number, and the number of payments. In cell D9, enter the IPMT function to calculate the interest paid for the first month using mixed cell references to the input area for the Rate, Nper, and PV arguments and using cell A9 for the Per argument. Make sure the result is a positive value and copy the function to the range D10:D68. 5 After calculating the interest paid, the rest of the monthly payment repays the principal. 7.5 In cell E9, enter the PPMT function to calculate the principal paid for the first month using mixed cell references to the input rea for the Rage, Nper, and PV argument and using cell A9 for the Per argument. Make sure the result is a positive value and copy the function to the range E10:E68. 6 The last column of the loan amortization table calculates the ending balance. In cell F9, calculate the ending balance by subtracting the Principal Repayment from the Beginning Balance in row 9. Copy the formula to the range F10:F68 7 The beginning balance for each payment is calculated and entered in column B 5 In cell B10, enter a formula that references the first month's ending balance in cell F9. Copy the formula to the range B11:868. Ensure that Accounting Number Format is applied to the range B9: F68 Created On: 09/24/2019 Exp19_Excel_Ch07_ML2 - Finances 1.0 e X W